If your business wants to offer a billion dollar sweepstakes to attract customers, you better know the right way to manage it. In 2003, Pepsi ran a sweepstakes competition that was mind-boggling in scale. The grand prize was nothing less than $1 billion. Yes billion. The publicity associated with this astronomical prize generated tremendous value for the company. Have you ever wondered how a company can offer such a prize? It doesn’t have to be that extreme for you to raise an eyebrow. What … [Read more...]
Raising Financially Responsible Children
Like all good things in life, financial success is a double-edged sword, especially if you have kids. Here is a guide on Raising Financially Responsible Children. Most business owners want to achieve financial success. If you have already achieved it, then congratulations! Feel free to invite me for a spin in your new Lamborghini Aventador. Like all good things in life, financial success is a double-edged sword, especially if you have kids. Wealthy entrepreneurs face a tremendous dilemma: how … [Read more...]
5 Ways To Axe Avoidable Behavior
Avoidable behavior can keep you from getting your most important tasks done. Here are a few ways to kick the bad habit. I’ve been meaning to write this column for a long time. But I just couldn’t get around to it for some reason. That reason? Avoidable behavior. Some people own up to it. Others don’t. But it’s more common than you think, especially among business owners. I’m not a psychologist and I want to clarify that I’m not talking about Avoidant personality disorder which is something else … [Read more...]
Protecting your data From Critical Data Leaks
Sometimes the boring details that we overlook could mean the difference between success and failure in our businesses. Protect Your Company From Critical Data Leaks Sometimes the boring details that we overlook could mean the difference between success and failure in our businesses. When it comes to protecting your data, not every threat takes the shape of a sensational international network of hackers or a rogue employee turned mole. Sometimes something as innocent as e-mailing a draft of a … [Read more...]
Economic Outlook: What Can We Learn From GDP Numbers?
Business owners spend most of their time analyzing their own numbers. But it's also important to look at the bigger picture. Gross Domestic Product (“GDP”) is one of the most important measures of the condition of our economy. Both GDP in dollar terms and changes over time to GDP can help us understand where things stand today and where they will most likely go over the next several years. As business owners, we spend most of our time analyzing the numbers of our company. But every once in a … [Read more...]
How To Calculate The Size Of Your Sales Force
Growing your sales force too quickly can lead to wasted time, and money. Have you thought about the size of your sales force lately? If you grow your sales force too quickly it can be a huge problem. For starters, you may not have the expertise to manage it, and there may not be an established market or sales process in place for them to follow—leading to wasted time and money. It can also lead to frustration and disenchantment, which sooner or later morphs into high turnover. On the flip … [Read more...]
Give Your Startup An Edge With Startup Open
The Startup Open competition is designed to recognize new business success. Does your company have what it takes? The role that new businesses play in the success of our economy cannot be overstated. According to a recent study by the Kauffman Foundation, job growth in the U.S. is entirely driven by new companies. Using data from the Business Dynamics Statistics, a dataset compiled by the U.S. Census Bureau, the Kauffman Foundation analyzed both new companies—defined as those in business less … [Read more...]
Should You Scale Your Business?
When small businesses are faced with an opportunity to grow, the prospect can be scary. Here is want to consider first before you Scale your business. My friend Eric* has a problem that many business owners face. He has been running his small business profitably for over five years. He hasn’t achieved much growth on an annualized basis but the company generates sufficient cash flow to give him a comfortable standard of living, keep his eight employees happy and fulfill his customers’ requests. … [Read more...]
The Toll Financial Stress Takes On Your Employees
Employers often don't recognize the toll financial stress and matters have on their employees--here's what you can do to help. Many companies institute polices that help their employees take care of the little distractions in life that can sap productivity. Offering free lunches, complimentary coffee, access to an onsite gym, even dry cleaning pick-up services are far less rare today when compared to 30 years ago. While these programs can help employees concentrate, they are just window … [Read more...]
Reward Hard Workers: Alternatives To Raises That Employees Appreciate
When times are tough, employee raises can be hard to come by. Here are other ways to reward hard workers. Keeping employees motivated during challenging times is extremely difficult. When the economy is performing poorly it reflects on the overall level of sales and profitability of your business. This in turn makes it difficult to offer raises or other monetary compensation to employees. For top performers, this can be especially frustrating. If the situation isn’t managed properly then it … [Read more...]
- « Previous Page
- 1
- …
- 121
- 122
- 123
- 124
- 125
- …
- 134
- Next Page »